Question 1

How fast can a bridge loan close?

Accepted Answer

Bridge loans typically close in 7 to 14 days. Some lenders can move faster with complete documentation. Speed is the main advantage over traditional mortgages, which take 30–45 days.

Question 2

Do I need to sell my current home to qualify for a bridge?

Accepted Answer

Yes — lenders require proof you're selling. You'll need a listing agreement and ideally a purchase contract. The equity in your current home is what secures the bridge.

Question 3

What happens if my current home doesn't sell before the bridge matures?

Accepted Answer

Most bridges have a 6–12 month term. If your home hasn't sold, you'll need to refinance the bridge into a traditional mortgage or extend it. Plan your exit strategy carefully before closing.

Question 4

Are bridge loans more expensive than regular mortgages?

Accepted Answer

Yes. Interest rates run 1% to 3% higher than 30-year fixed rates. You're also paying two mortgages briefly. The cost is real, but you gain speed and certainty in a competitive market.

Question 5

Can I get a bridge loan if I have less than 20% equity in my current home?

Accepted Answer

It's harder but possible. Lenders typically want 20% to 30% equity. If you have less, expect tighter terms, higher rates, or a larger down payment on the new purchase.

Bridge Loans in Dublin: Fast Financing for Your Next Home